Do I Really Need Insurance?
When we need long-term care, the lack of insurance often leaves us and our families in a state of deep crisis - both emotional and financial. Then it is too late to start thinking: "I wish I had thought of long-term care insurance." Therefore, it is important that we keep our "houses" in order and not become liabilities to our families.
Indeed, the thought of our loved ones struggling to deal with our disability, care for and comfort us, and shoulder the cost of it all is, for most of us, reason enough to plan for long-term care. After all, we don't like to think of ourselves as frail and dependent in the future, but denial can be detrimental to our and our families' best interest.
A very real need
The possibility of needing long-term care at some point in life is more likely than having a car accident or a house fire. Yet people are less inclined to plan for long-term care coverage than to get auto or homeowner insurance.
Many people find it discomforting to think of long-term care because they associate it with old age and the end of life. Yet, there are many reasons, other than aging, why people may need long-term care, such as accidents or illnesses.
The purpose of long-term care is to help us cope with the long-term loss of ability to care fully for ourselves, and insure a life with a desirable level of comfort.